Whats unique about national consumer debt creditors?
A. Some of them have a policy that if they can’t recover close to 50 cents on the dollar they would rather the debtor file a Chapter 7 and get nothing. Sometimes a debt workout settlement of even 30 cents on the dollar can be too much to pay even if the payments can be streched over a term of years. When the debtor can not afford any of the settlement options bankruptcy may be the best way to go.
